Why Hire an Accountant for Income Taxes?
There are a number of benefits of hiring a Chartered Accountant to do your taxes. Here are just a few to wet your appetite:
- Have it done right. Simply put, we have to deal with tax rules on a daily basis and have a pretty good grasp on them.
- We know you better than a piece of software. Tax software will calculate how events in your life impact your taxes, if you know to input them – but an accountant you can actually talk to knows how different situations in your life can impact taxes.
- Ask an accountant first. Some transactions must be done a certain way to avoid taxes owed or trigger tax savings. Often, by the time tax season rolls around it’s too late to correct it and you may owe taxes that could have been easily avoided. Benefit from having an accountant year-round to answer your questions.
- Less Audits. Reduce the chance of being reviewed or audited by the CRA.
- Save Money. Think accountants fees are too high? You may be surprised how much you can save by claiming the right tax savings, avoiding arrears interest amounts and getting things done right, the first time. Without a doubt we have saved our clients more money than we’ve been paid in fees.
- No More Stress. Just stop worrying about it. Get back to spending time on the things you actually enjoy in life!
Complicated tax situation? Tired of trying to figure out your own taxes, without really knowing if it was done correctly? Not even worth the hours of headache? Hiring a professional accountant can change the nightmare of tax time into a quick, painless and stress-free process. There are a number of things that can quickly complicate even personal tax returns: kids, home renovations, investment properties, financial investments or a death in the family. Never stress out again about personal taxes and ensure they are done correctly.
Self-Employed Business Tax
Just started your own business? Have a side-job and not sure how to report revenue, or worse yet, claim expenses? Growing bigger and want to make sure your business is complying with income taxes correctly? There a number of intricacies in reporting income taxes for a self-employed or sole-proprietor business that basic tax software can’t help you with. Whatever stage you are in your business, it’s never too early to hire a professional accountant to ensure your business is taking advantage of all the tax-saving opportunities available to you and your business. In fact, I’m more than happy to meet with clients before they start their business to make sure they fully understand how tax will impact them.
Incorporated businesses are taxed under a significantly different tax system than personal taxes. Not only that, but many corporations are owned by one, or few, directors who want to understand the best way to take money out of the corporation to pay themselves, which directly impacts their personal taxes. If you’ve found your business has grown enough to the point of requiring incorporation, the time to have a professional accountant explain how to optimize your taxes has definitely come. Not incorporated and wondering if it’s the right choice for your business? I’d be more than happy to have that conversation with you. In fact – I help businesses incorporate: learn more.
Wondering about HST/GST taxes? You may be required to pay HST, or can claim back HST you have paid others as a refund! This is separate from income taxes and you can read more here: GST/HST Tax Services.